Bank of England independence needs reining in, says Ed Balls

Bank of England independence needs reining in, says Ed Balls
 

Writing in an academic paper for Harvard Kennedy School, Mr Balls said there was a need for central banks to "sacrifice some political independence" in order to protect their reputation and purpose. 
"Absolutist interpretations of complete central bank independence may both undermine the pursuit of new central bank objectives and fray the political support that currently exists for central bank autonomy in their core monetary policy function," he wrote. 
Mr Balls said power was "hugely concentrated" in central banks and their independence is "unfinished... read more

 
17 November 2016 in Business, Views: 48
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